Seattle Bubble Forum Archive

Interesting article from Rolling Stone about the continuing consolidation of political power by former wall street bankers during our current "Bailout Era".



It will be interesting to see how closely Geitner's bank cleanup plan to be announced tomorrow follows the actions taken during previous "waves" of the bailout.

My inclination is also lies along the lines of "why are these the guys architecting the recovery - aren't they the ones that got us into this mess to begin with?". also agree ( about 9:20 in the video).

Lanny

"People are pissed off about this financial crisis, and about this bailout, but they're not pissed off enough. The reality is that the worldwide economic meltdown and the bailout that followed were together a kind of revolution, a coup d'état. They cemented and formalized a political trend that has been snowballing for decades: the gradual takeover of the government by a small class of connected insiders, who used money to control elections, buy influence and systematically weaken financial regulations."

Bingo...we have a winner!!! Bankster elites meeting in secret for years plotting every move of their multi-decade power grab.

Get used to the word folks.....CONSPIRACY.

You have all been trained to cringe when you hear the word.

You have all been taught to say only...."Bah, Bah, Bah".

Guess who is behind your "training".....

As a good friend and client told me once, "you see Charles, we're not interested in making money. We're interested in making more money".

I have a hard time believing that these guys were in it for political gain as much as they were in it to have giant corporations and giant bonuses. Collapsing the economy really doesn't play well into that money making strategy.

Considering that now the government is getting ready to dictate how much money they make, this seems to be backfiring on them.

The execs getting the millions in bonuses are still just the hired help. They are hired and fired by the board, which is where the real money is. Those people can weather depressions just fine and are now looking for buying opportunities. The CFO of Bank of America just issued a press release to tell Congress to back off with the bailouts so BoA and others can pick off the weaker firms. Disgusting, especially considering it is in the interest of taxpayers to reduce the consolidation so there are fewer firms that are too big to fail.